Owens-Illinois Can Break Higher

Why the glass container maker's stock could surge 30% next year.

A weak European economy has made for a difficult year at Owens-Illinois, the world's largest maker of glass containers.

Owens (ticker: OI), which derives 42% of its sales from Europe, has seen its stock tumble nearly 20% from a January high, as a slowdown in demand in the region has hurt results. In the September quarter, volumes fell 11% in Europe. For the year, volumes could fall 8%.